The legal sector grew strongly in 2021 after the doubts and uncertainty experienced during the covid financial year. This is reflected in the turnover ranking of the 25 law firms with the highest revenues in Spain last year, a researched made by El Confidencial.
The economic recovery, the enormous liquidity in the markets and transactional hyperactivity led to a 6.53% growth in revenues for the elite of the legal profession as a whole. However, with very uneven increases in turnover, which has led to 14 changes of position in the ‘top 25’ of the legal profession. All the firms have increased their turnover except for two, Linklaters and DLA Piper, although their figures should be viewed with caution, as their last closed financial year is April 2021 (both of which follow the English fiscal year), so they are still under the strong influence of the pandemic.
The top three national law firms, Garrigues, Cuatrecasas and Uría Menéndez, remain unchanged at the top of the podium. Behind them, the group of the ‘big four’ also remains unchanged. In fourth position, PwC Tax & Legal managed to halt the progress made in recent years by EY Abogados, fifth in the ranking.
Behind them, emerges the great protagonist of this edition of the ‘top 25’ law firms: Pérez-Llorca. After growing ‘only’ 7.03% in 2020, the law firm headed by Pedro Pérez-Llorca astonished the market, increasing its turnover by almost 33%. The organisation increased its revenues by €22.54 million, reaching a turnover of €91.04 million.
You can see the full ranking of the 25 law firms, by El Confidencial, via Pedro del Rosal and Irene Cortés here.
